JAKARTA – Composite Stock Price Index (IHSG) is projected to strengthen in today’s trading. The JCI movement today is in the range of 6,068-6,137.
Reliance Sekuritas analyst Lanjar Nafi said the JCI was moving lower but stuck at the 5-day Moving Average support level at 6,094. The stochastic and RSI indicators are saturated in the near overbought area. The next movement direction is still likely to strengthen as long as the JCI is observed to be firmly above the support level of 6,090 and the MA5 at 6,094.
Also Read: Running Out of Gasoline, JCI Closed Weakened to 6,097
“So technically, it is estimated that the JCI will move in consolidation trying to stay in the positive zone at the range of 6,068-6,137,” said Lanjar in his research, Wednesday (28/7/2021).
Technically observable stocks include; BBCA, BRPT, CTRA, ERAA, LPPF, MAPI, SILO, TPIA.
Previously, the JCI closed down 9.34 points or 0.15% to a level of 6,097 after being optimistic in the first trading session. The shares of UNVR, BBRI, TOWR, ICBP and ANTM reversed correction towards the second session and became the laggards of the index movement.
Also Read: Session I Pause, JCI Down 0.01% at Level 6.015
The index for the primary consumption sector (-1.43%) fell amid pressure from investors selling consumer companies after UNVR which reported unsatisfactory financial performance in the first half of 2021 where there was a decline in both net sales and profits. The sluggish purchasing power of the people, which is inversely proportional to the rising prices of raw materials, is the main factor.
